Investments in Non-controlled Entities (Predecessor [Member])

9 Months Ended

Sep. 30, 2013

Predecessor [Member]

Schedule of Equity Method Investments [Line Items]

The following table reflects the activity in our investments in non-controlled entities for the nine months ended September 30, 2013 and 2012:



	Nine months ended September 30, 2013
	2013			2012
Balance at beginning of year	$	76,879		$	72,626
Equity in net income	14,816			13,498
Distributions	(3,391		)	(8,347		)
Balance at end of period	$	88,304		$	77,777

The following reflects combined summarized financial information of the non-controlled entities as of September 30, 2013:



Balance Sheets	Empire State Building Co.		1333 Broadway Associates			1350 Broadway Associates		501 Seventh Avenue Associates		Total
Real estate and development in process, net	$	223,178	$	39,515		$	42,697	$	19,746	$	325,136
Other assets	149,575		35,360			22,086		14,346		221,367
Total assets	$	372,753	$	74,875		$	64,783	$	34,092	$	546,503
Mortgage and notes payable	$	—	$	70,657		$	53,223	$	—	$	123,880
Other liabilities	50,381		3,137			5,713		3,216		62,447
Total liabilities	50,381		73,794			58,936		3,216		186,327
Members’/partners’ equity	322,268		1,081			5,847		30,876		360,072
Non-controlling interest	104		—			—		—		104
Total equity	322,372		1,081			5,847		30,876		360,176
Total liabilities and equity	$	372,753	$	74,875		$	64,783	$	34,092	$	546,503
Our share of equity—carrying value of our investments in non-controlled entities	$	79,126	$	(53	)	$	2,924	$	6,307	$	88,304

Empire State Realty Trust, Inc. Predecessor

Notes to Condensed Combined Financial Statements

(amounts in thousands)

(unaudited)



	Nine months ended September 30, 2013
Statements of Operations	Empire State Building Co.		1333 Broadway Associates			1350 Broadway Associates		501 Seventh Avenue Associates		Total
Revenue:
Rental revenue and other	$	98,561	$	11,357		$	16,076	$	13,652	$	139,646
Observatory revenue	76,680		—			—		—		76,680
Total revenue	175,241		11,357			16,076		13,652		216,326
Expenses:
Operating expenses—rental	89,117		5,669			7,825		10,100		112,711
Operating expenses—overage rent	10,894		—			—		106		11,000
Operating expenses—observatory	17,150		—			—		—		17,150
Interest	—		3,548			2,412		—		5,960
Depreciation and amortization	10,997		2,186			3,264		1,127		17,574
Total expenses	128,158		11,403			13,501		11,333		164,395
Net income (loss)	$	47,083	$	(46	)	$	2,575	$	2,319	$	51,931
Our share of equity in net income (loss) of non-controlled entities	$	13,612	$	(23	)	$	1,104	$	123	$	14,816



	Nine months ended September 30, 2012
Statements of Operations	Empire State Building Co.		1333 Broadway Associates			1350 Broadway Associates		501 Seventh Avenue Associates		Total
Revenue:
Rental revenue and other	$	102,659	$	11,061		$	15,953	$	14,189	$	143,862
Observatory revenue	68,493		—			—		—		68,493
Total revenue	171,152		11,061			15,953		14,189		212,355
Expenses:
Operating expenses—rental	93,689		5,423			8,217		9,882		117,211
Operating expenses—overage rent	26,572		—			—		2,252		28,824
Operating expenses—observatory	15,383		—			—		—		15,383
Interest	—		3,561			2,215		—		5,776
Depreciation and amortization	10,148		2,541			2,554		1,135		16,378
Total expenses	145,792		11,525			12,986		13,269		183,572
Net income (loss)	$	25,360	$	(464	)	$	2,967	$	920	$	28,783
Our share of equity in net income (loss) of non-controlled entities	$	12,059	$	(232	)	$	1,483	$	188	$	13,498

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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